Action:
IRS has released a new version of the W-9 form dated January 2011.
Please make arrangements to use the new form. If you have hard copy forms in supply, please discard them and replace with the new form.
Changes:
- The“checkboxes” for federal tax classification, which are required, have been changed. Main changes were to corporations and trust/estates.
- The section in the instructions on backup withholding removed the actual backup withholding tax rate
- Instructions added that a payee must provide updated information if tax status or reporting impacts change
- Instructions emphasized that the payee must provide a new W-9 if name or TIN changes
W-9 Background:
The IRS form W-9 is provided by the IRS as the form to collect a U.S. Citizen or Resident Alien for tax purposes official name, address, TIN and tax status for tax and reporting purposes. Nonresident alien for tax purposes complete IRS form W-8BEN.